Preparing an Estate Home for Sale

Today, in preparing a Kensington home for the market, we sent the following list of recommendations to the heirs. We thought all would-be sellers might find it useful:

1. Landscaping: We observed the home to have well-manicured, mature landscaping. In our opinion, this existing structure would benefit by the addition of some economical, fresh, new plantings to fill in some empty spots and marry the mature plantings with a bit of updating. Now that rains have started in our area, we believe the lawn could be greatly improved by a sprinkling of grass seeds. We can get a landscaper to work within a budget here.
2. Interior painting: In our estimation, there is no better return on investment than a coat of fresh paint. We can choose a color pallet that allows the paint to not only clean and brighten, but also instantly update the home’s interior. We believe the home is in need of complete interior painting all the way through the closets and down into the laundry/furnace room. As part of our service, painting quotes can be obtained.
3. Floors: The home is believed to have serviceable hardwood floors beneath the carpeting. We believe the carpet should be removed and the floors cleaned and polished (not refinished.) We have a floor man that can restore the floors to a very good look at a fraction of the cost of refinishing. This assessment is based on a look at exposed wood floors and the condition of the older carpet. We do believe there is a good chance they will only need a thorough cleaning. If the carpet is removed and we discover a surprising amount of hidden damage, we may have to reassess. This is not our expectation.
4. Repairs: There is a broken window pane in the kitchen that should be repaired. There is also an area of peeling paint on house and large cracks along the back. The repair and paint matching of these exterior sections should be bid out before determining if they make sense to the market prep budget.
5. Cleaning: After floors and painting, the home would benefit from thorough cleaning and window washing.
6. Clearing: The home needs to be cleared of current contents. If you need help with this we can offer names of estate sale organizers and haulers.
7. Staging: Staging is very important. We often tell sellers that staging is like buying a shiny stainless steel appliance, but sprinkling that high-end appeal all over the house. In addition, 85% of buyers are now using the web in there home search. Empty rooms lose visual square footage and buyers do not stay on a site with less than stellar photos. To have good photos, there must be something in the rooms on which to focus.
8. Reports: There are some reports that buyers expect to see as part of the sale preparations. These include; zone disclosure report ($123.95), Termite report ($250), sewer lateral compliance (the bid is free, but likely to reflect needed repairs). There is also an ordinance in Kensington requiring an automatic gas shut off value before the sale. This device costs approximately $500. Some additional reports are optional, but may have value in this case. These include general home inspection and structural engineers report. We should meet in person to discuss your options and the pros/cons of supplying additional reports.

We believe that these improvements will not only maximize the home’s potential value on the open market, but also that these improvements optimize the dollar for dollar value of the costs associated with the market preparations. We understand that market preparations are costly, but our experience is that these are the items that draw buyers to the property and keep them interested. Never-the-less, this list represents our advice only. You are the decision makers. Please don’t hesitate to call your agent to discuss your concerns and share your thoughts on marketing the home. As part of our service, written bids will be delivered to you and approved before any work is ordered.

Related Post:
Preparing Your East Bay Home For Sale - Top Ten Value Added Improvements

Berkeley Home Sold Prices for July of 2008

The East Bay real estate market remains strong, as evidenced by the recorded sales in Berkeley for the month of July. Many homes have still sold for more than the asking price. We captured Berkeley to give a snapshot indication of the market for the month of July. Oakland, Albany, El Cerrito and Kensington statistics are also available upon request.

Address	Original Price	Sold Price	%	DOM
Berkeley Map Area 1
2371 EUNICE ST	$1,245,000	$999,500	80%	108
780 Spruce	$1,125,000	$940,000	84%	87
2471 CEDAR ST	$999,500	$1,000,000	100%	74
1501 OLYMPUS AVE	$648,000	$618,000	95%	34
2 QUAIL AVE	$940,000	$890,000	95%	35
34 FLORIDA AVE	$1,195,000	$1,195,000	100%	15
14 QUAIL AVE	$635,000	$650,000	102%	14
763 CRAGMONT AVE	$985,000	$1,050,000	107%	12
1542 LE ROY AVE	$1,795,000	$1,702,240	95%	13
2 GREENWOOD CMN	$1,079,000	$1,260,000	117%	22
192 FAIRLAWN DR	$489,000	$512,000	105%	14
1946 MARIN AVE	$799,000	$750,000	94%	21
Totals	$11,934,500	$11,566,740	97%	37
Berkeley Map Area 2
1178 COLUSA AVE	$850,000	$777,000	91%	65
532 Vincente Avenue	$1,080,000	$970,000	90%	36
740 ENSENADA AVE	$599,000	$600,000	100%	15
641 NEILSON ST	$760,000	$744,050	98%	12
1950 Vine St	$550,000	$560,814	102%	19
1793 SAN LORENZO AVE	$839,000	$860,000	103%	27
1821 HOPKINS ST	$1,060,000	$1,030,000	97%	17
1972 YOSEMITE RD	$1,295,000	$1,250,000	97%	39
560 COLUSA AVE	$769,000	$750,000	98%	18
1531 THOUSAND OAKS BLVD	$679,000	$699,000	103%	12
551 NEILSON ST	$795,000	$875,000	110%	9
1727 CAPISTRANO AVE	$798,000	$882,000	111%	13
Totals	$10,074,000	$9,997,864	99%	24
Berkeley Map Area 3
1607 Martin Luther King Jr Wy	$1,290,000	$1,035,000	80%	93
1538 Martin Luther King Jr Wy	$875,000	$820,000	94%	51
1306 MILVIA ST	$1,195,000	$1,350,000	113%	13
1740 MCGEE AVE	$579,000	$665,000	115%	11
1332 CARLOTTA AVE	$850,000	$1,111,000	131%	16
1410 CYPRESS ST	$699,000	$650,000	93%	8
1510 JOSEPHINE ST	$995,000	$1,230,000	124%	14
Totals	$6,483,000	$6,861,000	106%	29
Berkeley Map Area 4
1421 HEARST ST	$599,000	$550,000	92%	6
1377 FRANCISCO ST	$550,000	$600,000	109%	15
1607 BELVEDERE AVE	$579,000	$615,000	106%	14
1488 KEONCREST DR	$719,500	$793,000	110%	11
Totals	$2,447,500	$2,558,000	105%	12
Berkeley Map Area 5
1429 HARMON ST	$534,900	$426,000	80%	270
2512 RUSSELL ST	$975,000	$1,244,000	128%	13
1532 7TH ST	$499,000	$575,000	115%	15
Totals	$2,008,900	$2,245,000	112%	99
Berkeley Map Area 6
1716 7TH ST	$474,900	$449,900	95%	15
Totals	$474,900	$449,900	95%	15
Berkeley Map Area 7
1521 PARKER ST	$539,000	$575,000	107%	21
2350 WEST ST	$515,000	$515,000	100%	0
Totals	$1,054,000	$1,090,000	103%	11
Berkeley Map Area 8
3034 HARPER ST	$389,000	$401,000	103%	16
2901 KING ST	$295,000	$305,000	103%	16
2604 MATHEWS ST	$795,000	$855,000	108%	14
2641 MATHEWS ST	$499,000	$490,000	98%	30
2754 MATHEWS ST	$519,000	$535,000	103%	14
1314 67TH ST	$449,000	$475,000	106%	15
Totals	$2,946,000	$3,061,000	104%	18
Berkeley Map Area 9
2111 WOOLSEY ST	$579,000	$540,000	93%	53
2509 WOOLSEY ST	$975,000	$961,435	99%	13
Totals	$1,554,000	$1,501,435	97%	33
Berkeley Map Area 10
67 EL CAMINO REAL	$849,000	$810,833	96%	23
3020 BATEMAN ST	$799,000	$825,000	103%	15
3300 CLAREMONT AVE	$975,000	$975,000	100%	14
49 EVERGREEN LN	$1,545,000	$1,565,000	101%	7
46 ROANOKE RD	$711,000	$699,000	98%	8
19 ALVARADO RD	$1,595,000	$1,806,000	113%	19
Totals	$6,474,000	$6,680,833	103%	14

Berkeley Home Sold Prices for June of 2008

The East Bay real estate market remains strong, as evidenced by the recorded sales in Berkeley for the month of June. All areas averaged less than thirty days on the market and many sold for more the the asking price. We captured Berkeley to give a snapshot indication of the market for the month of June. Oakland, Albany, El Cerrito and Kensington statistics are also available upon request.

Address	Original Price	Sold Price	%	DOM
Berkeley Map Area 1
2577 ROSE ST	$1,000,000	$885,000	89%	104
769 SPRUCE ST	$1,245,000	$1,400,000	112%	66
1406 QUEENS RD	$729,900	$655,000	90%	37
1036 MARIPOSA AVE	$1,250,000	$1,300,888	104%	15
2683 SHASTA RD	$1,395,000	$1,450,000	104%	17
561 SANTA CLARA AVE	$1,095,000	$1,095,000	100%	14
704 WILDCAT CANYON RD	$895,000	$895,000	100%	22
927 EUCLID AVE	$989,000	$1,020,000	103%	6
749 CRAGMONT AVE	$779,000	$879,000	113%	23
901 ARLINGTON AVE	$1,095,000	$1,302,000	119%	10
1336 SUMMIT RD	$1,395,000	$1,422,000	102%	12
33 STEPHENS WAY	$1,598,000	$1,383,384	87%	21
2381 EUNICE ST	$849,000	$885,000	104%	4
Totals	$14,314,900	$14,572,272	102%	27
Berkeley Map Area 2
914 MODOC ST	$1,165,000	$1,125,000	97%	12
499 COLUSA AVE	$785,000	$760,000	97%	21
525 NEILSON ST	$715,000	$775,000	108%	15
908 MENDOCINO AVE	$1,800,000	$1,825,000	101%	11
Totals	$4,465,000	$4,485,000	100%	15
Berkeley Map Area 3
1320 Martin Luther King Jr Way	$625,000	$550,000	88%	34
1635 CEDAR ST	$610,000	$585,000	96%	17
965 MENDOCINO AVE	$1,095,000	$1,259,000	115%	14
1547 JOSEPHINE ST	$699,000	$752,750	108%	10
1641 FRANCISCO ST	$650,000	$780,000	120%	14
Totals	$3,679,000	$3,926,750	107%	18
Berkeley Map Area 4
1355 BERKELEY WAY	$650,000	$680,000	105%	20
1324 SANTA FE AVE	$619,900	$612,000	99%	5
Totals	$1,269,900	$1,292,000	102%	13
Berkeley Map Area 7
2416 SACRAMENTO ST	$425,000	$389,000	92%	6
1141 ADDISON ST	$410,000	$391,000	95%	43
2415 ACTON ST	$639,000	$669,000	105%	7
Totals	$1,474,000	$1,449,000	98%	19
Berkeley Map Area 8
1110 Parker	$895,000	$869,000	97%	23
1603 Russell St.	$506,500	$490,000	97%	31
2815 PARK ST	$683,000	$683,000	100%	1
Totals	$2,084,500	$2,042,000	98%	18
Berkeley Map Area 9
2649 DANA ST	$650,000	$638,000	98%	33
3020 WHEELER ST	$499,000	$512,500	103%	14
2137 WARD ST	$499,000	$437,000	88%	36
3034 FULTON ST	$659,000	$806,000	122%	14
2210 DERBY ST	$749,000	$915,000	122%	14
Totals	$3,056,000	$3,308,500	108%	22
Berkeley Map Area 10
2742 PRINCE STREET	$1,095,000	$900,000	82%	49
4 ALVARADO PL	$1,780,000	$1,700,000	96%	16
2813 KELSEY ST	$1,295,000	$1,325,000	102%	38
545 PANORAMIC WAY	$799,000	$775,000	97%	11
2648 STUART ST	$879,000	$883,000	100%	14
28 OAKVALE AVE	$1,395,000	$1,350,000	97%	11
200 THE UPLANDS	$1,195,000	$1,254,000	105%	6
Totals	$8,438,000	$8,187,000	97%	21

Note: Berkeley Hils Realty may not have participated in all of the above sales. Information is provided via the MLS system and is only as accurate as the information entered into the system.

Berkeley Sold Home Prices May 2008

The following represents all the single family homes that have recorded a sale in Berkeley through our Multiple Listing Service in the month of May. We captured Berkeley to give a snapshot indication of the market for the month of May. Oakland, Albany, El Cerrito and Kensington statistics are also available upon request.

MLS #	Address	Original Price	Sold Price	Origina Price %	DOM
Berkeley Map Area 1
40323055	1051 PARK HILLS RD	$1,350,000	$1,100,000	81%	75
40332223	1405 Glendale Ave	$879,000	$875,000	100%	14
40333601	833 SAN LUIS RD	$1,400,000	$1,373,000	98%	30
40333682	1452 SCENIC AVE	$1,075,000	$1,182,000	110%	14
40333692	1505 LE ROY AVE	$849,000	$820,000	97%	18
40334263	1166 CRAGMONT AVE	$1,150,000	$1,176,700	102%	15
40335092	2245 GLEN AVE	$1,520,000	$1,670,000	110%	14
Totals		$8,223,000	$8,196,700	100%	26
Berkeley Map Area 2
40331771	1862 TACOMA AVE	$774,900	$792,050	102%	17
40332199	1428 NEILSON ST	$679,999	$690,000	101%	7
40333389	670 THE ALAMEDA	$1,075,000	$1,300,000	121%	16
40335491	551 NEILSON ST	$795,000	$810,000	102%	13
40338909	1545 Keoncrest Dr	$675,000	$807,000	120%	14
40339954	1830 CATALINA AVE	$675,000	$775,000	115%	13
Totals		$4,674,899	$5,174,050	111%	13
Berkeley Map Area 3
40327878	1782 Rose St	$769,000	$735,000	96%	45
40332255	1620 JOSEPHINE ST	$749,000	$785,000	105%	16
40335167	1516 MARTIN LUTHER KING JR	$729,000	$756,000	104%	15
Totals		$2,247,000	$2,276,000	101%	25
Berkeley Map Area 4
40332086	1555 ACTON ST	$659,000	$600,000	91%	34
40333681	1208 ORDWAY ST	$799,000	$795,000	99%	15
40334116	1335 Kains Ave	$749,000	$744,000	99%	15
40335220	1826 CURTIS ST	$599,000	$671,000	112%	14
40335319	1196 CORNELL AVE	$419,000	$407,800	97%	25
Totals		$3,225,000	$3,217,800	100%	21
Berkeley Map Area 5
40336752	1032 VIRGINIA ST	$488,000	$515,000	106%	14
Totals		$488,000	$515,000	106%	14
Berkeley Map Area 6
40327977	2340 8TH ST	$429,900	$455,000	106%	30
40331089	2022 9th St	$449,000	$485,000	108%	24
Totals		$878,900	$940,000	107%	27
Berkeley Map Area 7
40323350	1314 DWIGHT WAY	$675,000	$636,000	94%	46
40329429	1745 ALLSTON WAY	$799,000	$800,000	100%	34
40337744	2312 VALLEY ST	$679,000	$769,000	113%	14
Totals		$2,153,000	$2,205,000	102%	31
Berkeley Map Area 8
40324986	1739 Blake Street	$525,000	$443,900	85%	53
40326506	1601 DERBY ST	$599,000	$550,000	92%	27
40333334	1423 FAIRVIEW ST	$350,000	$320,750	92%	1
40338733	1112 WARD ST	$499,000	$506,000	101%	5
40338859	1522 DWIGHT WAY	$595,000	$655,000	110%	4
Totals		$2,568,000	$2,475,650	96%	18
Berkeley Map Area 9
40332250	2155 WARD ST	$799,000	$950,000	119%	14
Totals		$799,000	$950,000	119%	14
Berkeley Map Area 10
40331150	285 STONEWALL RD	$1,250,000	$1,175,000	94%	42
40331961	10 ALVARADO RD	$1,195,000	$1,262,000	106%	22
40336716	2914 HILLEGASS AVE	$935,000	$1,301,000	139%	13
Totals		$3,380,000	$3,738,000	111%	26